Lagging Arms Production Makes Pentagon Wary of Further Industry Consolidation

U.S. defense companies are finding it tough to quickly replenish weaponry such as missiles and artillery shells for Ukraine, leading Pentagon officials to revisit whether industry consolidation has gone too far.

Two decades of mergers and acquisitions have left the top six contractors to share the majority of Pentagon spending on military equipment. In the 1990s, some 50 firms vied for big contracts.